Financial Management

Bismillahirrahmanirrahim.

I am going to discuss about financial management the Islam Way!

First, when you spend your money, do not overbudget!

However, do not be so thrifty as to buy very low quality foods and stuffs eventhough you can afford to buy the high quality goods. This is especially so for the man of the house. Because if you sincerely spend your money for the well being of your family, it is considered to be a good charity, a hasanah and only Allah can repay your good deeds to your ahl. That is to say, if you have the budget, spend it according to your necessities, and not to be so thrifty and stingy for fear of reducing your wealth. Allah loves beautiful things and it is not wrong for wanting to wear nice shoes and clothes but never to buy accessories ever so in excess. And of course, it is also wrong, to only have a pair of clothes when you have the money to buy more clothes. The key is to be moderate.{Al Furgan;67}

Secondly, avoid owing people money unless you have no choice whatsoever~

Do you wanna know why? Because even a syahid fi sabilillah, his debt will not be forgiven. And we all know that a syahid gets to be in jannah BUT if he has a debt still unpaid, it will not be forgiven because it is a matter between him and another human. Unless his heirs or relatives paid his debt for him, only then, he will be released from the burden of the debt in the hereafter.{Al Baqarah;282} Have you heard in the Quran, it is said that whenever you owe somebody, you have to write 'em down? In order not to forget. So, what happens if you don't write them down and then you forgot that you owe somebody some money but the other party is still waiting for you to pay the money back but are too "segan" to ask for it? Well, if you died, and that person did not come to your family and ask for his money, then, you have to pay him back in the hereafter. How? You gave him your hasanat(good deeds;pahala) Oh my! If you do not have enough hasanat to give, then, you have to accept his bad deeds(dosa). It is like that. My teacher said, even borrowing things are considered as indebting. So, if you forgot to give the borrowed things back, you are indebted to that person! So how? If we forgot, my teacher said, give sadaqah and niat in your heart for the pahala of that sadaqah to be given to whomever you are indebted to if any. Phew~

Thirdly, we are forbidden to associate ourselves in those "buy & sell" not according to syariat islamiyah such as riba, stolen goods, spending an orphan's inheritance wrongly, dishonesty in trading etc.

Such a short post this time with so many broken english and grammars! Becoming rusty in the fine tuning of my grammar -.-"

Until next time! Wassalam.